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ISM Non-Manufacturing

May 07 2020

The NOPE Index Says “Nope!”

  • May 7, 2020

The most valuable gauge we construct from the ISM Manufacturing and ISM Non-Manufacturing reports sunk into bear territory with the April update, signifying a serious margin squeeze has hit the service sector.

Oct 05 2019

Last Bastion Breaking Down?

  • Oct 5, 2019

We’ve been expecting weakness in the manufacturing sector to spread to the service economy, but were not prepared for the nearly four-point drop in the latest ISM Non-Manufacturing Composite. We don’t want to overplay a single monthly reading from an historically volatile report, but the Non-Manufacturing Price Index spiked despite the drop in New Orders.